MIRA INFORM REPORT

 

 

Report Date :

02.01.2015

 

IDENTIFICATION DETAILS

 

Name :

CEDAR DECOR PRIVATE LIMITED

 

 

Registered Office :

401, The Chambers, Hanuman Road, Western Express Highway, Vile Parle (East), Mumbai – 400057, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

02.12.2004

 

 

Com. Reg. No.:

11-149787

 

 

Capital Investment / Paid-up Capital :

Rs. 37.500 Millions

 

 

CIN No.:

[Company Identification No.]

U20200MH2004PTC149787

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Mumc12905E

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer of plywood and laminates.

 

 

No. of Employees :

250 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (51)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track.

 

Financial position of the company seems to be decent.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually correct.

 

The company can be considered normal for business dealings at usual trade terms and conditions.

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

 

ECGC Country Risk Classification List – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long Term Rating = BBB

Rating Explanation

Have moderate degree of safety and carry moderate credit risk.

Date

June 17, 2014

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = A3+

Rating Explanation

Have moderate degree of safety and carry higher credit risk.

Date

June 17, 2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION PARTED BY (GENERAL DETAILS)

 

Name :

Mr. Gautam

Designation :

Assistant Accountant

Contact No.:

91-22-2611780

Date :

29.12.2014

 

 

LOCATIONS

 

Registered Office/ Factory :

401, The Chambers, Hanuman Road, Western Express Highway, Vile Parle (East), Mumbai – 400057, Maharashtra, India 

Tel. No.:

91-22-2611780

Fax No.:

Not Available

E-Mail :

gautam@durain.in

Website :

http://www.cedarindia.com

 

 

DIRECTORS

 

AS ON 30.09.2014

 

Name :

Pawan Kumar Dokania

Designation :

Director

Address :

92A, Versova Layout, 7th Cross, C.V. Raman Nagar, Bangalore – 560092, Karnataka, India

Date of Appointment :

30.03.2005

DIN No.:

00027195

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51109KA1991PTC039283

SAURAV SUMAN FINVEST PRIVATE LIMITED

Director

14/11/1991

14/11/1991

-

Active

NO

2

U51909WB1991PTC051983

NAKITA TRADE & COMMERCE PVT LTD

Director

24/11/1999

24/11/1999

-

Active

NO

3

U20200MH2004PTC149787

CEDAR DECOR PRIVATE LIMITED

Director

30/03/2005

30/03/2005

-

Active

NO

 

 

 

 

Name :

Bijay Kumar Dokania

Designation :

Director

Address :

21, Basant Bahar, Bopal, Ahmedabad – 380058, Gujarat, India

Date of Appointment :

30.03.2005

DIN No.:

00061474

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1991PTC051983

NAKITA TRADE & COMMERCE PVT LTD

Director

14/11/1991

14/11/1991

-

Active

NO

2

U20200MH2004PTC149787

CEDAR DECOR PRIVATE LIMITED

Director

30/03/2005

30/03/2005

-

Active

NO

 

 

Name :

Prem Kumar Dokania

Designation :

Director

Address :

10/1, Alipore Park Place, Kolkata – 700027, West Bengal, India

Date of Appointment :

31.01.2005

DIN No.:

00028331

Other Directorship :

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70101GJ1991PTC051447

ALOK SOMNATH TRADING & AGENCY PVT LTD

Director

14/11/1991

31/07/1991

-

Active

NO

2

U20291GJ1987PTC009551

SUMAN PLY WOODS PVT LTD

Director

06/10/1997

06/10/1997

-

Active

NO

3

U36100GJ1999PTC035586

HOME DEPOT (INDIA) PRIVATE LIMITED

Director

26/10/1999

26/10/1999

-

Active

NO

4

U20200MH2004PTC149787

CEDAR DECOR PRIVATE LIMITED

Director

31/01/2005

31/01/2005

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Gautam

Designation :

Assistant Accountant

 

 

MAJOR SHAREHOLDERS

 

AS ON 30.09.2014

 

Names of Shareholders

 

No. of Shares

Shri Sajjan Kumar Dokania

 

349500

Shri Ashok Kumar Dokania

 

500

Shri Bijay Kumar Dokania

 

672000

Smt. Suman Dokania

 

330000

Saurav Suman Finvest Private Limited

 

400000

Smt. Kusum Dokania

 

187500

Shri Pankaj Dokania

 

170000

Shri Pawankumar Dokania

 

180000

Durian Industries Limited

 

257500

Smt Amita Dokania

 

235000

Priyanaka Dokania

 

30000

Shri Vishal Kumar Dokania

 

500

Smt Swati Agarwal (NRI)

 

937500

 

 

 

Total

 

3750000

 

AS ON 30.09.2014

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage of Holding

Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others

25.00

Bodies corporate

17.53

Directors or relatives of Directors

57.47

Total

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of plywood and laminates.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

 

Products :

Raw Material

Countries :
  • Korea
  • China
  • Taiwan
  • Europe
  • UK
  • Singapore

 

 

Terms :

 

Selling :

Cash and Advance Payment

 

 

Purchasing :

Cash and Advance Payment

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Durian Industries Limited – Palghar

Name of the Person :

Not Divulged

Contact No.:

Denied to provide contact details

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Maple Moulding Private Limited – Palghar

Name of the Person :

Not Divulged

Contact No.:

Denied to provide contact details

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

250 (Approximately)

 

 

Bankers :

Banker Name

State Bank of India

Branch Address

SME Backbay Reclamation Branch, Raheja Chambers, Nariman point, Mumbai – 400 021, Maharashtra, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Rs. 210.000 Millions

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Term Loan

21.426

40.060

Other loans and advances

7.245

3.701

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

239.157

209.252

Total

267.828

253.013

 

 

 

Auditors :

 

Name :

P. Bajaj and Company

Chartered Accountants 

Address :

286, Princess Street, Bhatia Mansion, 2nd Floor, Mumbai – 400 002, Maharashtra, India

Tel. No.:

91-22-22069701

Fax No.:

91-22-22007781

E-Mail :

pbajaj_co@yahoo.co.uk

capbajaj@yahoo.co.in

 

 

Memberships :

Not Available

 

 

Collaborators :

Not  Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

4,000,000

Equity Shares

Rs. 10/- each

Rs. 40.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

3,750,000

Equity Shares

Rs. 10/- each

Rs. 37.500 Millions

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2014

31.03.2013

31.03.2012

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

37.500

37.500

37.500

(b) Reserves & Surplus

223.812

184.634

150.029

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

0.000

0.000

Total Shareholders’ Funds (1) + (2)

261.312

222.134

187.529

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

122.837

139.199

140.423

(b) Deferred tax liabilities (Net)

26.288

23.590

18.892

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

149.125

162.789

159.315

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

239.157

209.252

202.121

(b) Trade payables

91.183

130.296

77.443

(c) Other current liabilities

46.093

39.206

38.164

(d) Short-term provisions

1.535

1.147

0.965

Total Current Liabilities (4)

377.968

379.901

318.693

 

 

 

 

TOTAL

788.405

764.824

665.537

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

234.557

229.889

223.431

(ii) Intangible Assets

1.815

2.409

2.718

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

2.743

2.865

2.576

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

239.115

235.163

228.725

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

221.052

222.265

202.252

(c) Trade receivables

224.737

260.156

150.281

(d) Cash and cash equivalents

29.598

8.401

51.723

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

73.903

38.839

32.556

Total Current Assets

549.290

529.661

436.812

 

 

 

 

TOTAL

788.405

764.824

665.537

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

688.298

 

 

Other Income

 

 

9.419

 

 

TOTAL                                     (A)

970.566

946.642

697.717

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

459.150

 

 

Purchases of Stock-in-Trade

 

 

53.166

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

NA

NA

(19.190)

 

 

Employees benefits expense

 

 

12.700

 

 

Other expenses

 

 

83.250

 

 

TOTAL                                     (B)

NA

NA

589.076

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)            (C)NA

NA

NA

108.641

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

NA

NA

43.918

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

NA

NA

64.723

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

NA

NA

10.612

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)           

NA

NA

54.111

 

 

 

 

 

Less

TAX                                                                  (H)

NA

NA

28.892

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX (G-H)                  (I)

39.178

34.605

25.219

 

 

 

 

 

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

8.550

5.949

9.804

 

TOTAL EARNINGS

8.550

5.949

9.804

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

91.052

103.442

113.875

 

 

Capital Goods

5.644

13.333

9.352

 

TOTAL IMPORTS

96.696

116.775

123.227

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

10.45

9.23

6.73

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

 

31.03.2013

31.03.2012

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)
0.00

0.00

3.66

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
0.00

0.00

15.78

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

123.10

0.00

0.00

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

3.71

0.00

0.00

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

1.39

1.57

1.83

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.45

1.39

1.37

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Millions]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Share Capital

37.500

37.500

37.500

Reserves & Surplus

150.029

184.634

223.812

Net worth

187.529

222.134

261.312

 

 

 

 

long-term borrowings

140.423

139.199

122.837

Short term borrowings

202.121

209.252

239.157

Total borrowings

342.544

348.451

361.994

Debt/Equity ratio

1.827

1.569

1.385

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

688.298

946.642

970.566

 

 

37.534

2.527

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Millions)

(Rs. In Millions)

(Rs. In Millions)

Sales

688.298

946.642

970.566

Profit

25.219

34.605

39.178

 

3.66%

3.66%

4.04%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

Yes

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

----------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

No

17]

Major suppliers

Yes

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

21]

Market information

----------------

22]

Litigations that the firm / promoter involved in

----------------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------------

26]

Buyer visit details

----------------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

Yes

31]

Date of Birth of Proprietor/Partner/Director, if available

No

32]

PAN of Proprietor/Partner/Director, if available

No

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

80007149

21/12/2013 *

418,800,000.00

State Bank of India

Backbay Reclamation Branch, Raheja Chambers,, Fre 
e Press Journal Marg, Nariman Point,, Mumbai, Maha 
rashtra - 400021, INDIA

B94123759

 

* Date of charge modification

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Millions)

31.03.2013

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Intercorporate borrowings

86.432

81.803

Loans and advance from related parties

7.734

13.635

 

 

 

Total

94.166

95.438

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipment
  • Factory Equipment
  • Furniture and Fixture
  • Vehicles

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                           None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.32

UK Pound

1

Rs. 98.64

Euro

1

Rs. 76.60

 

 

INFORMATION DETAILS

 

Information Gathered by :

GYT

 

 

Analysis Done by :

RAS

 

 

Report Prepared by :

JYO

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

51

 

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

 

Financial condition (40%)            Ownership background (20%)                  Payment record (10%)

Credit history (10%)                   Market trend (10%)                                Operational size (10%)

 

 

RATING EXPLANATIONS

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

71-85

Aa

Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums

 

Large

56-70

A

Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

11-25

Ca

Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity

 

Limited with full security

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.